PRODUCE PRICES

Hokitika Guardian, 13 June 1929, Page 5

PRODUCE PRICES

A REVIEW.

The following are the top London quotations for the past six weeks from May 3rd to June 7th:—

Danish butter:—l66s, 1695, 1695, • 1665, 1655, 1745. New Zealand (unsalted): —168 s, 168 s, 168 s, 168 s, ,170 s, 1725, : New Zealand (salted): —1665, 168 s, 1675, 1665, 168 s, 1725. Cheese (white)Bßs, 86s, 87s, 88s, 90s, 935. Cheese (coloured) :—9os, 88s, 89b, 90s, 925, 955. , ■ ~ A study of the above top weekly prices will disclose a curious variation. Early in the month a steady *, improvement of prices took place, -* only to receive a check and actual : decline about fijie middle of the month but followed again by a more rapid , advance, market dosing very firm at ;** 172 s per cwt., for salted. Messrs W. • Weddel and 00. Ltd. cable that after the initial improvement early in May, J. Danish butter weakened very, considerably, owing to the quality suffer--ing with mixed feeding and also with the increased production on r the Con-, ailment and imports consequently heav-"" ier to tlie United Kingdom.. With the improvement brought about hv full grass feeding, Danish advanced smartly to 1725. and a firmer tone was immediately reflected upon the whole butter market. This, together with the decline in gradings in Australia and shipments from New Zealand has firmed up Bpot prices and despite the increase in New Zealand / gradings of nearly 10 per centjj lr ior -f, May, indications are that with a nor- r<: mal market, prices are still more. likely to advance than decline; \vThis opinion is borne out by the recent forward buyers of stocks in .-(New Zealand at Is ssd per lb 'nett f.0.h., equal to approximately 178 s per cwt. o.i.f, CHEESE, Cables state that the long awaited increased consumption has commenced with the warmer weather now prevailing in the United Kingdom and markets have, in consequence, shown a steady improvement, despito the heavy stocks both in the United Kingdom and stored in New Zealand. The spot stocks, we are informed, are firmly held and consequently a still further advance may be expected. Against this, one must not lose sight of the fact that gradings'for the- past month increased by 14 per cent over May of last year and that 9550 tons were stored in New Zealand on Ist June as against 4300 tons last year.